Finding Your Niche - Your Online Goldmine! by Dave Isaacs http://www.infinite-revenue.com

 

If you haven't heard the word 'niche' being batted around
by Internet Marketers then you haven't been listening.
Finding a niche has become the antidote to competing in
overly saturated online markets.

What is a niche?

According to Merriam-Webster's Online Dictionary a niche
is described as "a place, employment, status, or activity
for which a person or thing is best fitted... a specialized
market".

Have you noticed that despite the closing of many
busi'nesses in these harsh economic times, the local hobby
train store is still around? That the 'hole-in-the-wall'
eatery is thriving? Or that trends such as scrapbooking can
start with a bang and still close within a year when four
similar busi'nesses start up in the same area?

The online busi'ness world reflects the same trends as
experienced in the offline world - often with faster
turnover and startup rates. Those who promote a product or
site that targets a small, select audience can tap into a
market that is otherwise not being served. Despite the
limitations of the client base, the targeted nature of the
busi'ness creates a devoted and active market - the aim of
any busi'ness.

How do I find a Niche?

Finding a niche requires diligent research. Whether you
have access to software that harvests and sorts information
or you take a manual approach you must first start with
ideas.

With a pen and paper (or computer, if that's more
comfortable) brainstorm a list of busi'nesses, products and
industries. Create a list of keywords and phrases you think
would be used by individuals looking for these items online.

Use a software program such as Wordtracker or a f'r'e'e
resource such as the Overture Keyword Selector Tool to find
keywords for your niche that have a high amount of traff'ic.

Although a program like Wordtracker makes it easy to find
details such as how many sites compete for that market, you
can also do your own research.

Concentrate your attention on question phrases such as
"how do I..." or "where can I...". These quest'ions will
clue you into potential markets that need servicing.

Next, go to Google Answers at
http://answers.google.com/answers and type one of your
keywords into the search area. What quest'ions are being
asked and how much are people willing to pay for answers?
If you find a group of keywords with a high number of
quest'ions then enter these words in your browser's search
engine.

What sites come up? Do they provide answers or solutions
to the problem? How are they making mon'ey? Can you see an
opportun'ity to service these individuals?

Finding a niche can open the door to a profitable online
busi'ness. Research the market and be certain that your
product or service is valuable to this group. Find forums
or groups that target this audience and pay close attention
to their concerns.

If you can help these people you WILL make mon'ey. The
best of both worlds!

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